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Mar 31, 2020
Realty Income Q1 2020 Earnings Report
Realty Income's operating results were announced for the first quarter ended March 31, 2020.
Key Takeaways
Realty Income reported a strong first quarter of 2020, investing $486 million in property acquisitions and ending the quarter well-positioned with a modest net debt to EBITDAre ratio of 5.0x and a fixed charge coverage ratio of 5.5x. As of May 1st, they had approximately $1.2 billion of cash on hand and $1.1 billion available on their $3.0 billion revolving credit facility. However, the company withdrew its 2020 guidance due to the ongoing uncertainty regarding the impact of the COVID-19 pandemic.
Net income per share was $0.44.
AFFO per share increased 7.3% to $0.88, compared to the quarter ended March 31, 2019.
Invested $486.0 million in 65 properties and properties under development or expansion, including $165.6 million in four properties in the U.K.
Raised $752.4 million from the sale of common stock.
Forward Guidance
Due to the ongoing uncertainty regarding the impact of the COVID-19 pandemic and the measures taken to limit its spread, the company withdrew its 2020 guidance that was provided on February 19, 2020.
Historical Earnings Impact
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Avg. Return Before/After Earnings
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